Quote:
Originally Posted by woj
I still don't understand why only $250k+ income earners should pay higher taxes? raising taxes is a good idea I thought? so shouldn't everyone chip in and help?
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Raising taxes on the middle class slows the economy. It's been proven time and again. Therefore, not such a good idea.
Raising taxes on those who spend a proportionality smaller percentage of their income has a proportionality smaller impact on the economy. Therefore, less harm done.
Quote:
Originally Posted by woj
and why is it $250k anyway? why not $200k? or $500k? seems completely arbitrary... across the board 2-3% increase would solve this problem...
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Any number chosen will at least seem arbitrary. The numbers mentioned may or may not correspond precisely with the points I just made. The premise remains the same however.
Quote:
Originally Posted by woj
(the truth is, NO ONE would support it if the tax increases effected them too...)
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People of all income brackets would do well to support the quickest way out of this fiscal mess.
And that means:
a) Grow the economy (the only
real long term solution).
b) Raise additional funds short term in a manner that least hurts the economy.
It's really that simple.
Growing the economy will, of course, be the toughest part . . . but if we can't do that all bets are off in any case.